Planned Giving

Planned Giving

Perhaps you have appreciated stock and would like to realize a tax benefit from donating it to a non-profit. This is one way among several where you can help St. Anthony Catholic School through planned giving.

A second method includes charitable gift annuities, which guarantee an income for life and allow St. Anthony Catholic School to eventually retain the principal. There is a $10,000 minimum amount for charitable gift annuities.

Perhaps you have substantial equity on a property such as a house and would like to donate it in order to support our school. We hope you will also consider us St. Anthony Catholic School of Washington, D.C., in your will and bequest.

Please contact Fr. Fred Close, pastor, for information on planned giving at 202-526-8822.

IRA Charitable Distributions

Did you know that The American Taxpayer Relief Act of 2012 includes a provision for qualified charitable distributions by IRA owners ages 70-1/2 and older, up to $100,000.
Here are further considerations for St. Anthony Catholic School donors who qualify to make IRA gifts:

· If you must take a required minimum distribution from your IRA in 2013, this new provision allows that you can direct your IRA custodian to make that distribution directly to St. Anthony Catholic School and other charitable organizations without adding to your 2013 income.
· Qualified donors can make direct IRA gifts to charity up to $100,000 anytime in 2013 without recognizing income.
· Non-itemizers might get a significant boost from this law since they would not otherwise have the benefit of any charitable deductions when completing their income tax returns. Normal distributions from an IRA trigger reportable income for the accountholder, creating a higher tax obligation. Non-itemizers can direct gifts to their favorite charities, including St. Anthony Catholic School, and avoid the additional income.

Here are some important points to keep in mind about IRA gifts:

· Charitable distributions are tax free in 2013 up to $100,000 and, better yet, 2013 gifts will satisfy part or all of the required minimum distributions IRA owners must take after age 70 1/2. That means income tax savings, even for donors who do not itemize their deductions.
· Only the IRA custodian can transfer gift amounts to a qualified organization. If IRA owners withdraw funds and then contribute them to charity separately, amounts withdrawn will be taxable to the donor.
· IRA donors need receipts of the same kind provided for other types of charitable contributions. It's important that donors coordinate IRA contributions with our office to ensure that appropriate documentation is provided.